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Local Condos don’t follow the market trends

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If you follow the Edmonton Real Estate market at all, you soon learn that Condos don’t always follow the trends of other properties. While we tend to see trends in what housing is doing in this city, the condo market often bucks the trends. There are good reasons for this. Condo buyers often have different needs than people shopping for other types of homes, so a trend in other types of properties won’t necessarily apply. That being said, the condo market in August did follow the prevailing trends of all kinds of real estate in Edmonton. The average price of all residential properties remained relatively unchanged from July to August, and Condo prices held firm.

Average Condo price in August – $237,042, down just 0.9% from July.

As with other properties, Condo prices were significantly higher in August of 2012 than they were the same time last year. So in August, you could say that Condos bucked their trend of bucking the trend. If a Condo provides the right fit for what’s happening in your life, it’s a great time to talk to your local REALTOR® –here when life happens.

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